NMB Bank FPO subscribed by 62% till today ; Issue still on a roll

As per the official of the issuing company, the FPO of NMB Bank has been subscribed by 62% till today. The company has received an application for Rs 2.35 arba from around 58,000 applicants, which means the company is yet to be subscribed by 38%. The company is issuing shares worth Rs 3.80 arba at a price of Rs 333. 

NMB Bank is floating 1,14,15,163 unit shares at Rs 333. The issue was scheduled to close on 3rd Ashad. But the issue has extended due to the undersubscription. Now the institutional investors can also apply along with general public for a quantity of minimum 10 units to 50 lakh units.    

Citizen Investment Trust is the issue manager for the public issue. ICRA  Nepal has assigned Grade 3 rating for the issue. 

The bank will collect a premium of 2.65 arba from this FPO hiking its reserve to 8.29 arba. The paid-up capital will reach to 7.60 arba  after this issue. The bank is believed to issue some bonus shares after FPO in order to meet the paid-up capital of Rs 8 arba.   

The share of NMB Bank was last traded for Rs 349 in the stock exchange.